It is pretty simple really. There are 2 aspects of it -
The operational aspect i.e. how do you create an account, what ids required, how do you transfer money, how to store, withdraw, transfer etc.
This is a bit more involved i.e. when to buy, what to buy, when to sell and so on. BTC and ETH are the most popular and highest market cap as of today, and there are a plethora of other crypto coins to invest in.
I am not an expert in #2 but I have some experience and have found success in making profit. It is a big topic and let me not pretend I can explain in one post. To be honest, I am not an expert either but a learner.
Let me cover the #1 topic here and hope it helps..
Depending on where you reside you can enrol to an exchange that will allow you to transfer money from your local bank account or credit card. Every country have their KYC and AML regulations and they attempt to know the customer before allowing to transfer fiat currencies to the crypto exchange. E.g. If you are US resident then you can use Poloniex, Bittrex, Coinbase and so on. For UAE Bitoasis is an option although not a great one. For India there are Unocoin and few others. For singapore you can try Gemini. Google search may be a good option for you to know what will work for you.
Keep in mind this is only needed to transfer fiat currency to the exchange so you can purchase cryptos. Once you have cryptos then it is easy to transfer from one to another and you can pretty much use any exchange.
Once you have selected an exchange they will require some basic identification documents and will allow limited trade. For higher trade they will expect higher authentication.
The basic access will suffice you to buy BTC from fiat currencies. Using BTC you can buy other crypto currencies as BTC has trading pairs with all other currencies.
Hope this will suffice to get you started with your investing.
I will also suggest you to read on the following topics to safeguard your currencies and make money -
- Wallets - Hardware wallets, online wallets, offline wallets, USB and paper wallets.
- What are private and public keys ? Public key can be shared, this is used to transfer currencies - send and receive. Private key as the name suggests should never be shared. It is the only way for you to maintain control of your currencies.
Hope this will suffice you to kickstart your investment idea. - What is mining ?
I have found some good reading sources online. Google can give you the answers as well but here are some sources I like -
- Coindesk
- BTCnews
- coingecko
- coinmarketcap
Cheers and happy trading / investing..
